In India, various types of
loans are available for various types of consumers or borrowers. Even there are
loans that are made to satisfy a specific requirement, such as education loan,
business loan, consumer durable goods loan, etc.
The NRIs have shown keen
interest in Indian loan market, as they are investing their money in Indian
real estate or realty sector. To meet their requirements banks and financial
institutions have started providing loans that are specially designed for NRIs.
NRIs can avail loan for the
purchase or construction of the house or flat. NRIs can avail loan up to 85% of
the cost of the home/house/property/land and loan tenure is usually more than
10 years. Though, the loan amount depends upon the person paying capability and
income of the person. The NRIs can pay home
loan amount through EMI (Equated Monthly Installments). EMI comprises of the
principal and interest.
The customer can avail this
loan through online mode or offline mode. Though, the customer will find ease
by availing loan through online, as the customer will get all the information
regarding terms and conditions of the home loan and even about the
documentation of the home loan. The customer can complete most of the
formalities through online mode without visiting the moneylender’s premises. In
NRI loans also, there is an immense competition among the various financial
institutions. Hence, the customer can take benefit in such a scenario, by
negotiating with the bank for getting the best deal in terms of interest rate,
loan tenure, loan amount, additional charges, penalties, processing fees, and
even in terms & conditions.
Home loan is usually given
as a secured loan. A secured loan means that in which the customer has to
pledge any asset, like investments in stocks or mutual fund, property, gold or
anything against the loan amount or for availing the loan. Even financial
institutions provide 85% of the cost of the property. In this case, interest rate is also low, and the loan
amount is also high with longer duration for repayment. It is so because the
risk of lending is low, if the person defaults in repaying the amount, the bank
will seize the person property or an asset. In home loans, the person has to
provide property documents to the lender of the loan. Thus, NRIs
can also avail home loans.
Dialabank has a single number
“600-11-600” across 18 cities in India and following are the key benefits of
Calling Dial-A-Bank (600-11-600)
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